Streetbeat News

Stock Prices

TSLA

Tesla, Inc (NASDAQ:TSLA) saw a slight fall on Friday, testing the 50-day simple moving average (SMA) as support after ARK Invest sold $15.94 million worth of the stock. The EV-giant's move lower confirmed the stock’s downtrend remains intact, with the formation of another lower low. However, Tesla was working to print a hammer candlestick on the daily chart, which can indicate a reversal to the upside on the horizon.

Portfolio Pulse from Melanie Schaffer

September 22, 2023 | 4:37 pm

CSCO

SPLK

Shares of Splunk Inc (NASDAQ:SPLK) rose after Cisco Systems Inc (NASDAQ:CSCO) announced its intention to acquire the company for $157 per share. Analysts have mixed opinions on the deal, with some downgrading the rating of SPLK due to concerns around its long-term strategic positioning and potential overlap with Cisco's products. However, others see the deal as a positive strategic outcome for Splunk and a good opportunity for Cisco to cross-sell their products.

Portfolio Pulse from Priya Nigam

September 22, 2023 | 4:35 pm

DVN

A significant amount of unusual options activity has been detected for Devon Energy (NYSE:DVN), with a majority of investors taking a bullish stance. The trades include 11 puts and 3 calls, with a total amount of $1,337,684 and $94,705 respectively. Whales have been targeting a price range from $40.0 to $70.0 for Devon Energy over the last 3 months. The current price of DVN is $46.39, down by 0.05%. Analysts from Stifel, Citigroup, Wells Fargo, and Mizuho have maintained their Buy and Equal-Weight ratings on Devon Energy.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 4:30 pm

F

GM

STLA

The United Auto Workers (UAW) has expanded strikes at 38 locations across 20 states, predominantly affecting General Motors (GM) and Stellantis (STLA). Despite contract offers including nearly 20% hourly wage increases, the union demands further improvements. The strikes could disrupt dealers and delay customer repairs. Ford (F) is not involved as it demonstrates a serious commitment towards reaching a deal with the union. Shares of Ford were 2.6% higher, Stellantis was 0.5% higher, while General Motors edged 0.1% lower.

Portfolio Pulse from Piero Cingari

September 22, 2023 | 4:30 pm

TSN

HSBC has initiated coverage on Tyson Foods with a Reduce rating and a price target of $49. This has led to a decrease in Tyson Foods' share price.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 4:30 pm

HTZ

Hertz Global's stock is trading lower after Oppenheimer maintained an Outperform rating but lowered its price target from $25 to $21.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 4:25 pm

BTCUSD

CORZQ

Bankrupt Bitcoin miner Core Scientific Inc (OTC:CORZQ) has announced the purchase of 27,000 Bitcoin mining servers from Bitmain in a deal valued at $77 million. The deal includes $23.1 million in cash and $53.9 million in Core Scientific common stock. The stock's per-share value will be determined in line with a bankruptcy court-approved Chapter 11 plan of reorganization. The newly acquired servers are expected to enhance Core Scientific's mining fleet's efficiency, especially in anticipation of the upcoming Bitcoin halving event.

Portfolio Pulse from Murtuza Merchant

September 22, 2023 | 4:20 pm

VRTX

Vertex Pharmaceuticals Inc.'s stock price is currently at $353.85, after a 0.12% decrease. However, over the past month, the stock increased by 0.95%, and in the past year, by 27.68%. The company's P/E ratio is lower than the aggregate P/E of the Biotechnology industry, indicating that the stock might be undervalued. However, a lower P/E can also suggest that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 4:15 pm

FEAM

FLUX

MLGO

MOND

NEPT

SCHL

U.S. stocks traded slightly higher with the Nasdaq Composite gaining around 100 points. MicroAlgo Inc. shares shot up 80% after unveiling a knowledge-enhanced backtracking search algorithm. 5E Advanced Materials, Inc. shares rose 16% after receiving EPA authorization for Step-Rate Testing. Mondee Holdings, Inc. shares gained 25% after a $30 million share repurchase program was approved. Neptune Wellness Solutions Inc. shares dropped 48% after pricing a $4.5 million public offering. Scholastic Corporation shares were down 16% after reporting downbeat Q1 results. Flux Power Holdings, Inc. shares fell 16% following weaker-than-expected quarterly sales.

Portfolio Pulse from Lisa Levin

September 22, 2023 | 4:08 pm

WSO

Morgan Stanley has maintained an Underweight rating on Watsco's stock but increased its price target from $326 to $337. This has led to a rise in Watsco's share price.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 4:07 pm